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The Minister of Finance, Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission, Mounir Gwarzo, from Office, to allow for an unhindered investigation of several allegations of financial impropriety leveled against the Director-General.

The suspension is in line with the Public Service Rules 03405 and 03406.

In a statement by the deputy director press in the ministry, Patricia Deworitshe, the minister has set up an Administrative Panel of Inquiry to investigate and determine the culpability of the Director-General.